AITX’s RAD Announces ATM Hook & Chain Attack AI Analytic
Detroit, Michigan, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions, Inc. (the “Company”) (OTCPK:AITX), today announced a significant addition to its suite of AI analytics. This innovation equips RAD's robotic security solutions with the capability to detect the rampant threat of Hook & Chain ATM attacks plaguing the banking industry. A Hook and Chain attack involves attaching one end of a chain or cable to an ATM and using a vehicle to exert force on the machine, usually by pulling the chain with the vehicle, with the objective of forcefully open the ATM's safe doors, allowing thieves to access the cash inside. With this development, RAD continues to lead the charge in providing cutting-edge security solutions tailored to meet the evolving challenges faced by financial institutions and other enterprise clients.
- This innovation equips RAD's robotic security solutions with the capability to detect the rampant threat of Hook & Chain ATM attacks plaguing the banking industry.
- Hook and chain attacks were the leading ATM crime, in which thieves steal the cash from an ATM machine and cause extensive property damage, sometimes with loss and damages approaching $500K per incident.
- Mark Folmer, CPP, PSP, FSyI, President of RAD, added, “The Hook & Chain analytic was requested during discussions with a leading national bank with over 1000 branches.
- We currently have highly satisfied banking clients who are eager to implement the ATM attack detection analytic.